Lebanon Passes Anti-Money Laundering Law


BEIRUT -- The Lebanese parliament, responding to international pressure, approved a law in April to combat money laundering in the country’s highly secretive banking system, reports Reuters news agency.

The law, which enables the state to lift banking secrecy for the first time on accounts suspected of illegal operations, provides for a prison term of up to seven years and confiscation of related funds.

The Financial Action Task Force, the anti-money laundering agency backed by the major

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